A step towards Financial Happiness
Happyness Factory is a Goal Based Planning platform. We aim to spread financial literacy and help people make sound financial decisions.
20 Mar, 2018
Today, we at Happyness Factory, celebrate our first anniversary. In this period, we have helped more than 700 clients plan their finances to great success. But surprisingly, financial success isn’t what most people gun for. Most people just want to know “Am I doing ok?”
It’s no secret that people think of whether all their needs are going to be met. However, they have an expectation that good money decisions are a function of picking the right scheme or beating the markets. But good financial decisions also requires to understand one’s own behavior and emotional response to money. It’s more about the mind and less about the math.
If done correctly, financial planning isn’t as complicated as “experts” make it to be. Conversations led by financial institutions, banks, experts and even the media are dominated by “Large Cap, Mid Cap, Returns, Benchmark, Active, Passive, Index and so on”. When one tries to make investments based on this advice, it’s almost like giving someone a crash course on medicine and expecting them to perform a surgery. It doesn’t take a genius to understand that this is a recipe for disaster. Instead, financial planning needs to be treated in the same way a doctor would diagnose a patient, dispensing advice only after a thorough and detailed history is taken.
The value is in understanding an individual or family’s goals, their needs, their current situation, and only then creating a plan to help bridge the gap between their current means and future goals. Thus, to experience investment success, it is important to step away from the language of “Returns”, and begin using the language of “Happiness, Purpose of Life, Goals and Behaviour” instead. You might think that adopting a ‘Do what makes you feel good, and more importantly, happy’, might be a foolhardy approach. But it is more than just a feel good philosophy, but a rock solid strategy which organizations around the world have started adopting. More than half of the Fortune 100 companies in 50 countries have initiated work on happiness research. Thus, it made sense for us to adopt happiness as a strategy and business model.
And the past year has only validated our belief that this model of business works. The most important factor that clinched this verdict for us was the fact that it helped clients follow through on the plan, stick to their goals and achieve their version of happiness.
What we follow is a Goal Based approach, where the process always begins with asking the ‘Why’.. “Why are you saving? What makes you happy?” No two people will ever have the same explanation to this. Hence, we first try and understand what happiness means to each individual, and then make it our mission to help the person get there. Thus, by expounding on the idea of Happy Rich, we wish to take a step towards reforming the way the world thinks about money.
Once we help clients devise goals specific to them, our next step is ensuring that the clients stick it out till the end. Tough times are bound to arise, but it is only when you focus on your goals can you take prudent decisions (like not selling when the whole world screams SELL, the world is crumbling) that you achieve investment success. Happyness Factory helps people stay on track and achieve their financial goals. With each goal being worked towards individually and systematically, individuals can stop worrying about money and start enjoying the happy moments in their lives.
The HappyRich world we are trying to create is a place where we want people to believe that it is possible to be happy and be rich simultaneously. Upon accepting and understanding this to be true, the next step is to make purposeful financial decisions to achieve any goals you might have. Over the past year, we have seen numerous success stories, making us believe that this approach works. So, come join us at Happyness Factory on our mission to make the world happier, in the Right Way.